let's welcome hassane el-khoury.hen we are digging into some of the overall focus of your business, where are you seeing particularly some of the optimism coming from the investor? why are you managing to think despite ev's being an area where worried about stagnation, you're still able to outperform in that area? >> good morning. thank you for having me. we reported a quarter i think reaction nicely in the stock. it is all based on where expectation has been and where a lot of our peers have already reported. what different age -- what differentiates semi the last four to six quarters, we have been taken action to match and become more in line with what we see from in end demand and automotive. in the third quarter earnings, i started talking about automotive softness inventory digestion. that extended, therefore it was not a surprise to what we announced today. it was more of an expectation and really better than expected. nevertheless, softness we as a company have been very disciplined in addressing to get us thr

annabelle: that was the on semiconductor ceo hassane el-khoury speaking to us on bloomberg technologyan chipmakers and suppliers here in asia. it's a bit mixed what we are seeing in the session so far. but as we read, that company is reporting fourth-quarter results that beat expectations. we saw on 's shares climbing significantly as did the philadelphia semiconductor index. the other group of stocks we are tracking in the session today are old the cosmetic names in asia. these are moving mostly to the upside. we had estee lauder putting out its earnings overnight. those were better-than-expected. it is cutting its workforce slightly from it a restructuring land. investors like these things. and you mentioned the story around l'occitane, blackstone considering a bid for the company. haidi: and we are watching the rba, just 3.5 hours away from the press conference under this new revamped medications regime from the rba. officer shaun lucas when it comes to trading -- off session lows when it comes to trading. big tech is the laggard. the real estate and materials also suffering badly,